Citicore Renewable Energy Corp. (CREC) on Tuesday broke ground at its 69-megawatt solar power plant project in Silay City, Negros Occidental, its second solar facility in the province.
“We support Negros Occidental, its transition to renewable energy. With the completion of this project, we will not only be able to augment the power generation needs of Negros Occidental and the Visayas grid but also contribute to the growth of the province,” said Oliver Tan, CREC president and chief executive officer, in a statement.
CREC said the 69 MW project is expandable to 100 MW and should begin commercial operation within the year.
The company’s first plant in Negros Occidental was commissioned in 2016 with installed capacity of 25 MW. When the Silay City project completes, CREC will have combined installed capacity of 94 MW.
The goal at present is to contribute approximately 1,000 MW of ready-to-build solar energy capacity each year for the next five years, the company said.
Earlier, CREC bared plans to spend P35 billion this year to development renewable energy projects funded for the most part by internally generated funds and proceeds from an upcoming initial public offering.
CREC has 10 renewable energy sites under construction, including the Negros Occidental project, four in Batangas, one in Pampanga, two in Quezon Province and another two in Pangasinan. These are all seen completed this year.
CREC’s solar farm in Toledo, Cebu generates 60 MW, in Clark, Pampanga another 22 MW, in Mariveles, Bataan, 18 MW and in San Ildefonso, Bulacan. 15 MW.
